Asyad Shipping Company S.A.O.G has signed an agreement with Oman LNG Development Foundation (ODF) and Mars Development and Investment LLC (Mars) after selling 20% stake of its two new-build LNG carriers, Muscat LNG and Musandam LNG.
Announcing the deal, Asyad Shipping Company said in a filing to the Muscat Stock Exchange that the agreement was signed on July 26, 2026.
Under the agreement, ODF and Mars will each hold a 10% shareholding in the companies that own Muscat LNG and Musandam LNG, while Asyad Shipping will retain the remaining 80% shareholding in each company.
Dr. Ibrahim Al-Nadhairi, chief executive officer of Asyad Shipping, said: “This partnership marks another important step in strengthening the national shipping industry and logistics sectors. The participation of strong Omani funds as partners in ‘Muscat’ LNG and ‘Musandam’ LNG reflects the confidence placed in these projects and reinforces our commitment to delivering in-country value while supporting economic development. As the company transporting gas on behalf of Oman LNG, we look forward to building on this partnership and continuing to support Oman’s upstream gas industry.”
This follows Asyad Shipping’s earlier announcement on May 21, 2026, confirming delivery of the LNG’s which are on a charter agreement to Oman LNG under a long-term contract.
